Whistler draws people in from all over the world. Unable to shake the ski bug, many eventually succumb to the mountain’s appeal and purchase a vacation home so they can enjoy Whistler all year round. According to this recent Whistler Real Estate Market Report, property sales in Whistler are continuing at a steady pace at the start of 2018, and buyer interest is staying strong. So when should you buy your vacation home? General consensus is that the best time to purchase a rental home is in the spring or fall, but there are many other factors to consider. Here’s what you should know about the shifting market throughout the year, so you can make a decision that’s right for you.
Spring is a busy time for real estate, and is typically when most new listings hit the market. In fact, most assume that spring is the best time to buy a house, as new properties are listed, the market is flooded, and owners are keen to sell in time for a busy summer season. Buying in spring means you can reap the benefits of your property in summer when the good weather hits, but many other buyers have similar ideas. The increase in demand means the market is more competitive, so look out for this.
While the majority buy in spring or fall, take advantage of a quieter summer season to purchase a vacation property. Not only will you get to stay in Whistler and make the most of our fantastic lakes and biking trails in the sun, but you may also get a great deal. Many sellers who failed to sell their property in spring feel like they have missed their chance and will be unable to sell until the following year. This means they are much more willing to negotiate pricing with the buyer. What’s more, as the main rush of purchasing has passed, the lack of competition in the buyer’s field means it’s a lot less likely you’ll be trapped in a bidding war.
Purchasing a rental home in autumn means you can experience Whistler without the crowds, and enjoy the tranquillity before the madness of the winter season descends. However, you may notice a pattern emerging here, as again you won’t be the only one with this plan. As people’s minds drift towards the winter holidays, the idea of spending them nestled in a snowy mountaintop haven becomes all-too inviting. Fall is a busy time for property retail, as people are keen to make the most of a full season of winter fun. Be aware of higher competition, and less opportunity to negotiate during this time.
Crowds visit Whistler during peak season, and are immediately impressed and enamoured by our fantastic ski terrain and bustling village. While the buyers market is crowded, the supply is often low: Many sellers are using their properties, or have put them on a vacation rental program during the peak season. However, sellers are conscious that there are people renting and staying in resorts in Whistler, eager to enjoy it all year, so look out for people selling during this period.
Ultimately, the local market is always busy and there is no perfect, universal time to purchase a vacation home. If you are interested in buying a property, local real estate professional Lance Lundy would be happy to advise you on the best time to do so. You can get in contact here.